Tax Man Makes It
Hard To Be American
America’s rich are renouncing their citizenship at record levels — just to get richer.
Startling new data from Uncle Sam show that defections by Americans are expected to double this year, largely to avoid any stiff tax bills resulting from the proposed 55 percent hike on the rich — as well as the likely expiration on Dec. 31 of the Bush era tax cuts.
As many as 8,000 US citizens are projected by immigration officials to renounce in 2012, or about 154 a week, versus 3,805 in 2011, or about 73 per week.
“High-net-worth individuals are making decisions that having a US passport just isn’t worth the cost anymore,” said Jim Duggan, a lawyer at Duggan Bertsch, which specializes in protecting assets of the wealthy. Read more at Fox or the full story at the New York Post
Since our government is demonizing the wealthy, I can't blame them for leaving, there are many other countries who appreciate them and their money. It's a big planet, why pay 50-70% of your income to the U.S. government if you don't have to? Just to live in a country that's turning into a real shithole! Freedoms are dissipating rapidly...